How I'll Buy The Cleveland Indians, Building a Mailing List, and Decreasing Your Taxes | #FFLTV Ep 2

How I'll Buy The Cleveland Indians, Building a Mailing List, and Decreasing Your Taxes | #FFLTV Ep 2

what's up everybody this is Ryan Daniel Moran welcome to freedom Fastlane TV today we're talking about my plan to own the Cleveland Indians building an email list whether it's patriotic to pay taxes and we'll look at a brand that services new moms services new moms that sounds a little bit scandalous let's roll so it's officially baseball offseason which actually is one of my favorite times of the year the hot stove season is the reason I'm a baseball fan my desire to own the Cleveland Indians is actually because I love the business side of baseball the trades and the acquisitions that happen this is this is this is my play time I'm all all kinds of excited right now but a couple of weeks ago I was at Game seven of the World Series to see my beloved Cleveland Indians unfortunately lose – apparently everybody else's beloved Chicago Cubs it was cool because the city of Cleveland my hometown was on a grand stage ty Lopez and I were actually sitting in the same section just by chance LeBron James was just behind me and even a grant cardone was there pretending to be a Cleveland Indians fan as he pretends to be a lot of things it was great to see the city of Cleveland on a grand stage and what was interesting during that time and you know everybody kind of I'm very public about the fact that my dream is to own the Cleveland Indians I plan to do that by building brands and also buying brands and putting them into a a holding company that will scale to the hundreds of millions of dollars and that'll that'll that'll pay for the the Cleveland Indians that's my plan anyway but what was interesting is while Cleveland was on this grand stage there was almost this sense of completion around the goal so what I mean by that is part of my desire to own the Indians is a I think it would be the most fun I could ever possibly have sitting in the dugout I black on my eyes being the guy who is in charge of trades and acquisitions overseeing the process and helping the city of Cleveland rise back to prominence this is how I've always imagined it but watching Cleveland on a grand stage it was almost like I got to be a part of it without having to own the Cleveland Indians and it almost felt like part of my desire was satisfied I recorded a podcast with Tom bill you the founder of quest nutrition he'll actually be speaking at our December event freedom fast lane live December 9th 10th eleventh quick plug there but Tom said something that I thought was really interesting he said that their goal as a company is to end metabolic disease and he is on board with anything that helps accomplish that goal whether it's another company or whether it's within their company he even went as far as to say that if another company could do it better than them that he'd be all on board to support that company because the goal of the company isn't necessarily to maximize profits it is to end metabolic disease and in a capitalistic world the best way to actually solve that problem is to have a profitable business I thought that was really interesting that Tom saw it as they have a goal the best way to accomplish that goal is to be a profitable business and they're on board with anything that does that and in the same way if the goal is to see the Indians perform well and to see the city of Cleveland rise to prominence I got some satisfaction out of that even not being the owner of the team watching them be on a grand scale and watch Cleveland come back to life I had that same type of of an experience so I'll put it on the table in front of you of my recommendation the best way that you can actually have a business that makes a difference and gets all kinds of profits running through its veins have a common goal that people can get behind have a mission that other companies want to support have a mission that your your customers want to be a part of a great example of this is the honest company Jessica Alba's company which was just acquired for a billion dollars their their goal is to I forget the phrase but something along the lines of making clean living simple I forget what it is google it and sue me because I just totally botched that plug that I wanted to make but they have they have a common goal around providing clean simple products for moms when a report came out that said they weren't as clean as they marketed themselves to be the community was incredibly forgiving to them because they had already bought into a mission that is the honest company so didn't lose their market share market share stayed exactly as it was their passionate customer base stayed as it was that's the power of having a common goal and bringing your audience along with that goal so if you don't have a goal and a mission in your company it is a fantastic way to get people to align behind your mission and your brand and support you through the growth that the growth of your business which is like growth of your business let's move to QA let's do it alright I believe that the best way the fastest way to financial freedom it's why we call it the freedom Fastlane is to build a business and to invest the profits so let's answer some questions that will help you do just that Tony Ramirez what are your most effective strategies for building an email list so I think the best thing that you could do when you're building any audience an email list is just one way to have an audience but it's look first of all at the long game what is every lead going to be worth an interesting exercise that I did recently was looking at all right if we collect an email address and half of 1% buys whatever it is that we're promoting what's that worth to us okay and how many of those leads will buy we'll come to our December event or how many of those leads will join our mastermind and let's be really conservative for the numbers and we can add up what every lead is actually worth and get kind of a guesstimate of what it is when we look at it and that horizon we realized that every lead is worth a lot more than we thought it was most people only evaluate building an email list based on dollars in and dollars out and that's fine but you'll be able to justify spending more money if you have more meat on the bone to work with and you could just look at all your different products and what they're worth to you over a year's time and that gives you the freedom to be able to make the investments that you need to build that email list but along with that best strategy for building an email list being willing to lose money being willing to just put in the time and the lost revenue the lost profits to build up and and and get your leads and make mistakes along the way I mean building an email list is really the combination of some traffic source and the offer that you're making traffic sources are abundant it is Facebook ads it is YouTube ads it's Instagram ads it's blogging it's wherever you are advertising in front of your audience so where does your audience hang out put up the ad in front of those people bring them over to an offer and be willing to lose money along the way if we set on a the last week's episode of this show we talked about if you only have 500 dollars to build a business put all of that into building your audience and the reason for that is because even if you lose your entire investment if you spent a thousand dollars to build up an email us and you lose a thousand dollars but you get the leads you get the audience that is worth that can be worth thousands of dollars down the line so if we simply look at promoting physical products or building building a brand even if you lose your entire and if you don't make any dollars up front building up an email list or building up the audience when you are in the process of doing that but the day you go to launch your brand now you have hundreds or thousands of leads to market to that's a win because you can cash that check immediately and you can scale a lot faster so be willing to lose money be willing to look at the long horizon of what each lead is worth and then simply marry where your audience hangs out and what the offer is bring them together be willing to make some mistakes that's how you'll build an email list that drives the growth of a business Travis Ziggler asks what would you do to decrease your taxes by the end of the year a question after my own heart first of all can I go on a rant here for a second because you during the election season we heard a lot about the the merits and the ethics of paying taxes versus shielding taxes why do we assume that paying taxes is patriotic if that's the case then then why don't the people saying that just write more checks to the government I don't think people realize that the government incentivizes the things that they want you to invest in and those are called legal tax loopholes that's just called being smart I did not vote for Donald Trump I'm not necessarily a Donald Trump hater or supporter but there was all this noise about him not paying taxes the guy owns hundreds of millions of dollars worth of real estate which is the most incentivized asset class for tax deduction he'd be an idiot if he paid any taxes of course he's not gonna release his tax returns just people are gonna say he's not patriotic for paying taxes you know what's patriotic investing in things that are actually gonna drive economic growth or starting a business or paying for fun things for your family because that's a better use of funds than out-of-touch old politicians deciding how you're gonna spend your money it is not patriotic to pay more taxes it is a good thing it is an ethical thing for you to keep as much money as possible for you to keep as much of what you legitimately earned one what this is one area where I strongly disagree with Gary Vaynerchuk Gary said on stage at Freedom Fastlane live last year that he was happy to pay 50 cents on every dollar to live in this country I'm happy to live in this country but I think part of that is by keeping legitimately every possible dollar that you've earned because it is a better use of your money to reinvest it into the economy than giving it to bureaucracy all right rant over let's talk about the actual practicality of reducing your tax burden by the end of the year a couple things we can do the obvious one is to anything that is going to be an investment throughout the next year that you can justify spending before December 31st this is the time to do that what is gonna be the that the things that you can spend money on now that are gonna give you an ROI things like if you need new new hardware but also if you've got profits this would be the time to join a mastermind or come to a business and branding event in Austin Texas December 9th 10th and 11th beautiful time to get the tax write-off anything that will give you an ROI that might not be exactly tangible like relationships like putting down payments on event space if you're gonna hold an event next year or have a party for your employees doing the things that are nice to have that have good ROI that aren't necessarily measurable those are investments that you want to make now that's the obvious one spending money where you can justify it and getting it off the books now the best tax loophole in the world is real estate both because of the depreciation expense but also because of the mortgage interest so if you're gonna buy property it's a good time to do it although that's it's always a good idea to invest in a real estate the last place that is a lot of people don't talk about would be captive insurance there are some mixed mixed opinions about captive insurance it's basically the process of starting your own insurance company where you pay for a premium so that's a write-off but if you own the insurance company a premium is seen as a deposit not as income so it goes out of your business and into another business and none of its taxable so I'm not an expert in this but it is a way that I think it is I think it's two point 1 million dollars is the max that you can put away but you can put it away tax-free up to that amount you obviously want to talk to somebody who's a specialized than that I'm not I'm not an investment guru I don't play one on the internet I'm not a tax guru and I play one on the internet but something and I'm exploring right now and in the process of working on in in our businesses or at least exploring as it's just a good thing to have insurance anyway so it's it's an interesting thing to be able to control that and keep that within within your own operations we do a class on investing about making your money investing your money and protecting your money we don't have a fancy name for it we don't really even market it very well but we do a little workshop here in Austin Texas you can get information on that over at Freedom Fastlane comm slash investing and thank you for asking a question near and dear to my heart about how to keep money out of the hands of politicians and in the hands of greedy capitalists all right this is the part of show where we look at one of our students businesses we try to find what they're doing well and what the opportunities to make more money and increase their exposure our today is about servicing those moms and a little embarrassed that I said that phrase but this is a submission from Tim Tierney he is a member of the tribe the tribe is our incubator for brand builders for investors for audience leaders we find that we bait when we bake those three types of people together magic happens because people who have ideas for brands they come with the experience of building brands but they need capital and they need exposure audience leaders have eyeballs but you know they they don't have an incentive to promote anything really and investors are always looking for businesses with a lot of growth so when we put the three together magic happens and Tim is one of our tribe members he has a business called mommy knows best the website is mommy knows best com currently doing sales of fifty thousand dollars per month and his target market is new moms and they sell products to help new moms mostly who are breastfeeding and that's their main problem is something in in that pain point in their in their lives and a lot of their products address the the struggles that happen there so Tim I am looking at your website and I mean within within five seconds I'm like I want to invest in this business I think you're sitting on something really really special with the name mommy knows best and with the product line specifically that you have rolled out where I think you are missing an opportunity is really addressing the pain points that new moms have a real just moms have where the name like mommy knows best you've got a whole array of problems that you can serve with your products right now you say in your description of your business that you just serve new breastfeeding moms and the problems that they experience but your product lines suggest otherwise your product line suggests that your service your service I'm suing it again your your can we just say helping you're helping moms through their the entire lifecycle of then-existing you have low calorie sweeteners you have beauty products where I think you're missing is you don't have it clear in your mind what the pain points that you're solving are you've got one identified which is why you do supplements you have food products made to help breastfeeding moms but you've got this array of products that could help all these other pain points or at least could tip your cap to the idea that if mommy knows best if mom is really smart she's really want to makes decisions around here she's gonna make healthy choices which is why she has low calorie sweeteners which is why she she has supplements for her kids which is why she gives her kids vitamins these are all things that you could market to two moms we could simply look at at jiff as an example choosy moms choose jiff now what does that say it says that who they're targeting is the person making the buying decision which is the mom and the simple phrase choosy moms choose jiff is simply a way of saying of mommy knows best so obviously the mom would know as best is going to choose jiff you're sitting on that same type of marketing angle but with a whole bunch of different products I love the idea that you have a stevia sweetener you've got a xylitol powder I love that you've got Foods in line up I think that is really where you can you can scale this business the other opportunity that is sitting in front of you for this type of a product line is if you go out and you get Mom influencers my goodness there are there are Instagram pages of moms who cook well and and cook healthy for their kids that had hundreds of thousands of followers and they have no idea how to monetize that there are hundreds of mommy blogs that would love to get behind a company that they want to support there are podcasts about parenting there are YouTube channels about being a single mom or or raising a family or cooking vegan or whatever you know all these different places where moms are consuming content and they're not promoting any product because there's not a reason to you have the reason to if you develop the storyline that you serve moms who know best that note make the the best decisions for their families so your sit you're sitting on a great opportunity if you if you give your your product line a little bit more credit because you say that the person you're serving is just one pain point you actually cover a much much wider customer base than I think you are addressing and you can go out and get a whole bunch of new blood by going out and advertising to the audience's that our moms that do know best that are gonna want to buy into the reason why your company exists and thus buy your products long term that is what's gonna set you up as a multi-million dollar brand so Tim you know we've met personally so you know I'm a relatively new dad I make none of the buying decisions for Esther but if we if we look at this remember we're looking at the person who buys not just the product that we're selling and when you look at your mom's control the buying decisions so mom's don't just control the buying decisions when they're pregnant or when they're new moms they control the buying decisions when their kids are 6 8 12 15 16 sometimes 18 20 25 so we have a lot more problems and a lot more things that we can we can help with with our products beyond just when the baby is six to twelve months old so I think the lifecycle of your customers a lot longer than what you're giving it credit for and if you analyze your business in that type of a timeframe I think you're gonna be able to build this company a lot bigger and a lot faster as we head to the end of a very noisy crazy here and a lot of us are a little bit uncertain about what 2017 looks like on the horizon seems like a good time to remind everybody that you are the best shot that you've got at solving the world's problems and addressing the things in your life that you want to change we are the change that we want to see in this world not government not whoever is President it is individuals and I think the greatest change makers are entrepreneurs it's capitalism that's the best shot we have of solving problems if you have a problem you're passionate about make that a theme in your business it will bring the right people on board as employees as customers and it will give you a different sense of purpose into what you do as well capitalism is the best shot we have and the best shot you have of changing your entire financial future in your family tree so as an entrepreneur and as always keep on changing the world thanks for watching the show we'll see you on the next one Oh quick plug if you are an entrepreneur come to Austin Texas for freedom FAFSA and live December 9th 10th 11th we put the best entrepreneurs on the planet into one room for three days it is impossible for you not to walk out with a six-figure idea or six finger tactic unless you really don't want to change and it's a great time to get that final write off before the end of the year so get your butt on a plane go to freedom Fastlane to grab your ticket and we'll see you in a couple weeks and freaking fast saying live talk to you guys thanks for watching you


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